Kerala High Court
Nasayi M Ismail vs Union Bank Of India on 31 May, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 31ST DAY OF MAY 2022 / 10TH JYAISHTA, 1944
WP(C) NO. 17516 OF 2022
PETITIONER:
NASAYI M ISMAIL,
AGED 44 YEARS,
S/O. MUHAMMED ISMAIL KHAN, PEZHUMKATTIL,
ERATTUPETTA P.O., ERATTUPETTA, KOTTAYAM - 686 121.
BY ADVS.
AMRIN FATHIMA
SITHARA HAMZA KIZHAKOOT
RESPONDENTS:
1 UNION BANK OF INDIA,
REGIONAL OFFICE AT IIIRD FLOOR, AMALA TOWERS,
ADICHIRA JUNCTION, KOTTAYAM, PIN - 686 630,
REPRESENTED THROUGH ITS AUTHORIZED OFFICER.
2 AUTHORISED OFFICER,
UNION BANK OF INDIA,
REGIONAL OFFICE AT IIIRD FLOOR, AMALA TOWERS,
ADICHIRA JUNCTION, KOTTAYAM, PIN - 686 630.
BY SRI. A S P KURUP (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 17516 OF 2022
2
JUDGMENT
The petitioner has approached this Court challenging
proceedings under the SARFAESI Act which have been initiated
by the bank for recovery of the amounts due from the
petitioner.
2. During the course of hearing, petitioner has confined
the relief to an opportunity for repaying the overdue amount in
instalments and to obtain regularisation of the loan account.
3. It was submitted on behalf of the respondent bank
that the petitioner committed default in repayment and the
overdue amount is Rs.4,36,000/-(Rupees four lakhs thirty six
thousand only). It was further submitted that though
proceedings for recovery have been initiated, as a matter of
indulgence, the respondent bank is willing to accept repayment
of the overdue amount in limited instalments and regularise the
loan account.
4. I have heard Adv.Amrin Fathima, learned counsel for
the petitioner as well as Adv.A.S.P.Kurup, the learned counsel
for the respondents.
5. Having regard to the circumstances of the case and the
WP(C) NO. 17516 OF 2022
situation now prevailing, apart from the submissions made as
recorded above, I am of the view that the petitioner can be
granted an opportunity to repay the overdue amount in ten
instalments and thereafter, if the amount so directed is repaid
within the time as directed above, to have the loan account
regularised.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire overdue amount of
Rs.4,36,000/-(Rupees four lakhs thirty six thousand only) along
with bank charges from the petitioner and regularise the loan
account of the petitioner on the following conditions:
i. The overdue amount of Rs.4,36,000/-(Rupees four lakhs
thirty six thousand only) shall be repaid in ten equated
monthly instalments.
ii. The first instalment shall be paid on or before 30.06.2022.
iii. Petitioner shall continue to pay the regular EMI's along
with the instalments directed above.
iv. In the event of default of any one instalment, the
respondent bank shall be entitled to proceed in
accordance with law.
v. In order to enable the petitioner to repay the entire
amounts, all coercive proceedings shall be kept in
abeyance.
In the meanwhile, it will also be open to the petitioner to
WP(C) NO. 17516 OF 2022
approach the bank with an offer for one time settlement and if
such offer is accepted, the petitioner will be permitted to clear
the liability in terms of such settlement notwithstanding the
directions contained in this judgment.
Sd/-
GOPINATH P.
JUDGE
DK
WP(C) NO. 17516 OF 2022
APPENDIX OF WP(C) 17516/2022
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE RECEIPT DATED
15/12/2021 SHOWING THE DEPOSIT OF THE
A SUM OF RS.1,50,000/- TOWARDS LOAN
NO.665/09 AND 665/20 AT THE 1ST
RESPONDENT BANK.
Exhibit P2 A TRUE COPY OF THE NOTICE DATED
15/03/2022 ISSUED UNDER SECTION 13(2)
OF SARFAESI ACT.
